Forex interbank deals

Current interbank exchange rates

Shows the current trend for the assets classified in Strongly Bullish, Bullish, Bearish, Strongly Bearish and sideways.

Learn more about Foreign Exchange Market

It shows the current market position for the crossing. Overbought, Neutral and Oversold. The Volatility Index shows the current volatility High or Low , or the trend of it for the coming periods Expanding or Shrinking.

It is updated every 15 minutes. The majority of other information websites display prices of a single source, most of the time from one retail broker-dealer. At FXStreet , traders get interbank rates coming from the systematic selection of data providers that deliver millions of updates per day.

Forex Glossary

Interbank quotes are essential for realistic valuations, for instance comparison between interbank and a particular broker-dealer's rates; calculating risk exposure; analyzing performance; and justifying trades since price-driven indicators are much more reliable when using interbank rates. Prices are updated live, tick-by-tick.

Business Frets over Inter-bank Forex Market

What the trader is not able to hear is the amount of a particular bid or counter offer, or the name of the bank that is doing the trading. Prices are anonymous.

Inter-bank Brokers

The anonymity of the banks that are trading in the market ensures the market's efficiency, ensuring that all banks have a fair chance to trade. Sometimes brokers charge a commission that is paid equally by the buyer and the seller. The fees are negotiated on an individual basis by the bank and the brokerage firm.

Brokers show their customers the "bid" and "offer" prices made by other customers.

There is either a two-way bid and offer or a one-way bid or offer. Traders show different prices because they "read" the market differently; they have different expectations and different interests. A broker who has more than one price on one or both sides will automatically optimize the price.

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In other words, the broker will always show the highest bid and the lowest offer. It is such challenges that prompted a technical working group comprising of the RBZ, Office of the President and Cabinet, Ministry of Industry and Commerce, Ministry of Finance and Economic Development, Confederation of Zimbabwe Industries, Industrial Associations of manufacturers of basic commodities, among others, to convene at the Ministry of Industry and Commerce and discuss a wide range of macro-economic issues affected by the interbank market, key to ensuring price stabilization in the economy.

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  • The focus was mainly on the 14 basic commodities, namely, mealie-meal, meat, cooking oil, bread, salt, sugar, among others. According to insiders, the working group agreed that there is urgent need to come up with a credible way of determining the interbank exchange rate.

    At the close of business yesterday the interbank rate stood at 3. The parallel market rate had largely remained flat for a while at between 4. The working group suggested for the use of the weighted average as a starting point. This rate will ensure that significant amounts of foreign currency are traded through the interbank market on the basis failure to make this interbank market function freely is increasing the risk of the economy re-dollarizing.

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    It was also agreed that the RBZ should desist from imposing administrative controls on the operation of the interbank market and should allow the exchange rate to be determined freely by market forces. Once the exchange rate is determined by market forces, this rate should be adopted and applicable to all businesses. Apart from that, the technical committees said government and RBZ should continue tightening of fiscal and monetary policies as way of sucking out liquidity from the economy in a holistic approach.

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